Table of Content



1.Executive Summary
1.1 Brokers gain strength from COVID-19
1.2 Key findings
1.3 Critical success factors
2.Commercial Insurance Distribution Overview
2.1 Brokers increased their market share in 2020
3.The Broker Channel
3.1 The broker landscape is domited by five global firms
3.2 Cross-selling and upselling is the most popular growth strategy
3.3 Brokers implemented additiol service strategies in light of COVID-19
3.4 Brokers’ services have increased in value due to COVID-19
4.Other Commercial Distribution Channels
4.1 The direct channel will still retain value for some businesses
4.2 The banking channel’s impact remains muted
5.The Distribution Landscape Going Forward
5.1 Commercial insurance distribution after COVID-19
5.2 Brokers are set to continue domiting in the coming years
6.Appendix
6.1 Abbreviations and acronyms
6.2 Definitions
6.3 Methodology
6.4 Secondary sources
6.5 Further reading
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List of Figures



Figure 1: Brokers strengthened their market position in 2020
Figure 2: The direct and affinity channels will have taken financial hits in 2020
Figure 3: Brokers are not as dominant among SMEs
Figure 4: Online purchases are very popular with SMEs
Figure 5: Marsh remained the largest broker in 2020
Figure 6: Cross-selling and upselling is the most popular growth strategy
Figure 7: More national brokers are utilizing a range of growth strategies
Figure 8: Brokers are adopting additional services, but total uptake remains low
Figure 9: Provincial brokers have not adopted many new technologies
Figure 10: Super-regional brokers are tapping into social media
Figure 11: Over half of national brokers use data analytics
Figure 12: Most brokers believe customer relationships have strengthened due to COVID-19
Figure 13: All types of SMEs cancelled their cyber insurance due to the pandemic
Figure 14: We expect brokers’ share of the market to increase further over the forecast period


List of Tables



Table 1: Growth strategies utilized by UK brokers, 2021
Table 2: Banks and their insurance provider partners